Oxy, Partners Take Another Step to Advance Permian Carbon Capture Project
Occidental Petroleum Corp.’s vision to yank carbon emissions from the atmosphere in its top development, the Permian Basin, took a giant step forward Tuesday with the first engineering phase given the green light.
Australia’s Worley Ltd. was awarded the front-end engineering and design (FEED) for the first of four phases of the direct air capture (DAC) facility planned for West Texas. When complete, the facility would be capable of extracting 1 million metric tons/year (mmty) of atmospheric carbon dioxide (CO2).
The initial train, DAC 1, would represent the first commercial scale development to pull CO2 from the atmosphere. Oxy, as it is better known, is partnering with developer 1PointFive Inc. through Oxy Low Carbon Ventures LLC and with funding from Rusheen Capital Management LLC.